Hi limitupmike2,
Thanks for clarifying that no offense was intended. Normally when someone goes out of their way to butcher my name I think otherwise.....
You have some good points that are truly valid but you lose your credibility in my opinion when you appear to try to look like you have all the answers but don't demonstrate it.
Start a journal (I looked but didn't find one by you) and show us how its done. I would be happy to read it and happy to learn from it as well. Being a coach is EASY and its easy to write books saying how to trade. What is not easy is dropping your pants daily to the world to show what you have done.
There is no question that I am making to many mistakes in my trading and I am working hard to become better. At the same time and I know its hard for someone else to see the difference most of my trading is trend fading / finding the start of a new trend. While this can work really well in the right situation I have tried to apply it at the wrong times causing issues and large losses.
Last year at this time I finished up a great January and was starting out February strong. this year my January was a loss and so far this month is too. The thing is and this is the important thing, is that I am a better trader today than I was this time last year. I may be taking some "large" hits but I am not getting hit like with LEH, HAR and AIG because I don't put myself in that situation so I DO actually learn even if it is slow.
Last year around March I was slammed hard with MW with my gap up signal idea. I also took hits on others as well. But now, its currently my most profitable signal and I make gains with it almost everyday. Some people very well intended suggested that I do not every fade a gap up as its a strong sign of strength. This can be very true and but if you take it a step past that and look to see which ones continue higher and which ones retrace (even if they then go back higher) you can find opportunities to trade which I have done for the last six months or so with this signal. "blowing up" or losing is only losing if you don't learn anything from it and you can not improve as a result. If you can get an idea or learn something that will improve your trading than it doesn't have to be a loss. Sometimes my losses are just that losses. But sometimes and often I take the time to get something from it to improve in the future. Even trades like BIDU last month can be helpful when the setup happens again (as I am sure it will )
Best to you and I look forward to reading your journal so I can see another way of catching the mouse
Robert
Quote from limitupmike2:
one day is not a habit or a routine! I am still waiting for Mr.BLOW UP.. robert Weinsteinberg to have a huge loss day that wipes all of his hard work for the month.. happens everytime like clock work..
no offense but i check your journal to remind me of what I used to do a long time ago.
Anyway .. i think you are above average with consistent small profits, but that never made anyone rich especially when you tend to give it all back to the casino by the end of the month.
I'M STILL WORRIED ABOUT YOU ROBERT W.
Careful our there.. the next big loss is lurking right aroudn the corner.. you know it's there ... now how are you going to stop it!!!
WHAT IS YOUR MAX DAILY LOSS? MAX TRADE LOSS?
if you have to think about this answer then you are not ready adn destined to blow out your profits.. again and again and again
